estnet

Yes, but - there is another issue -the idea that banks discriminate against foreigners just b/c they can Added to the percent they already get on the exchange and the "farang" pays double or more in many places .......

For a country that is wanting to attract more tourists this seems counter-productive (but then I do understand that Thais RAISE prices when there is a drop in business - maybe it works but it seems that the US policy of lowering prices does seem to work better).

ScottieFlyer

Ahh, that's bad news, I had been using UOB. Time to switch to GSB.

I was under the impression AEON was some type of credit agency rather than a bank; does their ATMs give a good exchange rate?

Thanks, SF.

uncle1k

Strange, I have never been charged the 150 baht fee, but am charged a 1% fee each time I use my US atm card. Have always taken my money from Bangkok Bank, in Bangkok and up in Issan. Its a real rip off but not much we can do. TIT

Kalboz

It wasn't a wasted afternoon ... reporting back to help those who cannot afford the 150 baht a pop!

I had the time to spare and needed the money. A nice BTS ride that took me from Phloen Chit to Asoke and then on to Chitlom and back ... further exploring the city and enjoying the sites

BTW, for years now I have done the islands, the beaches, the North & the NE ... and BKK is still my favorite ^

Kalboz

The rate was not as good as I would like it to be ... around 32.80 Baht for the U$, here are the details:

08-21-2009 *NONCITIBANK ATM WITHDRAWAL
AT AEON THANA SIN BIG C RATDAMRI $ 304.80 for 10,000 Baht

lovtofly3

Point of note.
around the same time Superich was 33.97-34.00 buy/sell for $100usd.

So not such a good deal at the AEON THANA SIN BIG C RATDAMRI ATM.

lomatopo

FWIW I got 34.047 from an AEON ATM in Seacon Square on the same day (Friday, August 21, 2009). I’m using a Visa debit card. Mastercard might be using DCC which results in lower exchange rates. Also some might have hidden fees. It can be challenging to compare rates without all the details. Most reports on TV show AEON giving the IER rate, as do GSB.

Agree Superrich is great if you have $100 bills, almost as good as my ATM rate. When changing currency here many recommend writing down the serial numbers on the bills, adding the last one in full view of the clerk. This discourages the counterfeit bill substitution scam, which has been reported as occurring in Thailand (and other countries). I have never seen any bad reports about Superrrich.

wallydowl

We were in Bangkok about three weeks ago and always used the Bank of Ayudhya ATM's b/c they seemed to be the only ones that did not mention the 150 baht charge. They have bright yellow signage and are included in the ATM bank at the airport public transport center, and are all over Bangkok.

I can't confirm the exchange rate or that the charge hasn't appeared yet since my boyfriend made all the withdrawals

MegatopLover

For those of us reverting to T-cheques, which bank would you recommend for low fees and good rates?

dsquared37

It might not be great for convenience, however there is an HSBC branch on Rama IV, south side of Lumpini, which does not charge the dreaded fee.

The closest BTS station is Sala Daeng and MRT Silom.

dtsm

Well, regret to confirm UOB is charging 150 service fee....just went to same atm and got hit for it.

Kalboz

You are right ... I re-calculated the rate without Citibank charges and I am getting around 33.78 baht per US$ ... not as good rate as you are getting:

For 20,000 Baht

08-27-2009 FOREIGN FEE Aug 27 00:38 $ 17.76
08-27-2009 NONCITIBANK ATM WITHDRAWAL Aug 27 00:38 $ 591.99

For 10,000 Baht

08-21-2009 FOREIGN FEE Aug 21 04:44 BIG C RATDAMRI BANGKOK $ 8.88
08-21-2009 NONCITIBANK ATM WITHDRAWAL Aug 21 04:44 BIG C RATDAMRI BANGKOK $ 295.92

Citibank is killing me with these "Foreign Fee" charges but this is the best I can do without having any US currency for exchange.

ScottieFlyer

Have you explored option of a prepaid card in your country? I'm sure there must be some good ones. Competition between them in UK is hotting up and I have taken advantage of CaxtonFX that has no fees for topping up, or for payments and withdrawals overseas. Agent informed me the exchange loading for Thai Baht would be 2.5% which is comparable to most UK denit or credit cards without the per-use fee. In practice it seems to be doing better than the cash/TC exchange rates so I'm not yet switching to cash and TC so long as I can access GSB ATM fee-free.

MegatopLover

Just picked up my first batch of t-cheques in about 5 years. No fee from Wachovia for $100 Amex cheques. As long as I get a decent rate and no big per-cheque fees, I should come out ahead.

Wachovia was hitting me for 2.5% on the foreign exchange fee, and then the Thai banks' fees added another 1.5% (or more, depending on amount of withdrawal). Hassle factor is minor, as my bank is next door to my flat, and many banks can be found near my hotel. Besides, will always have the card in case of sudden needs for baht, e.g. at Chatuchak.

What's the word on which Thai banks have the best exchange terms for cashing t-cheques? In terms of lowest per-transaction fees and best rates?

maskedavenger

The travelers check exchange fee is a "stamp" fee set by the government....so it is the same for all travelers check transactions regardless of the face amount of the check. In the future, you might want to get USD 500 travelers checks, as the fee (THB 33) is the same regardless of the exchange amount. On the chart signs at all exchange locations, look for T/C to see the daily rate which can change daily and is usually only slightly different at all the banks.